債券附條件交易課稅之探討

Study on the Tax Law of Re-purchase Agreement and Re-sales Agreement

李燕鈴(Yang-Ling Lee)

指導教授 ： 黃俊杰

中原大學/商學院/財經法律研究所/碩士(2004年)

https://doi.org/10.6840/cycu200400088

摘要

本論文之研究目的為解決債券交易前手息之爭議，本文嘗試以製作統計數據圖及排列組合其可能產生之交易類型，作為往後研究與釐清此爭議之參考。
第一章首先說明本文研究之目的及動機，再就本文研究範圍、研究方法及整體架構為簡要之敘述。
第二章針對其市場實務運作情形加以研究介紹債券市場交易之類型。
第三章係針對債券附條件交易課稅問題及法制加以研究，另針對產生債券前手息之交易型態加以類型化，得知產生債券交易前手息之爭議其交易類型有一大特色，即最後之交易類型必為「債券買斷」與「債券附買回」之類型，因此若最後之交易類型為「債券賣斷」與「債券附賣回」之類型則完全無債券前手息之爭議產生。
第四章主要為討論債券附條件交易之性質，從法律關係、稅務處理、
財務會計上加以比較分析，另買賣說與融資說之比較亦為本章之重點。
第五章係以統計抽樣方法來分析利率水準之變動對採「買賣說」與
「融資說」對課稅收入之影響，得知當債券成交利率小於票面利率採「融資說」會使債券附買回之一方課稅所得增加，採『買賣說』會使債券附買回之一方課稅所得減少。債券交易前手息之爭議係為債券附買回交易所產生前手息之規避，因此若債券附條件交易採『買賣說』課稅，依據未來利率的走勢會使債券附買回之一方課稅所得減少。
第六章結論係整合前述五章內容，提出改革意見，希望能對我國法
制建構有所助益。

關鍵字

債券附條件交易

並列摘要

This research primarily focuses on the re-purchase agreement and re-sales agreement. It analyzes the regulations by comparing the differences between Taiwan and the United States . Issues that involve “re-purchase agreement” and “re-sales agreement” will be further analyzed from tax law domain so as to furnish a proposition for further improvement. The scheme of the discussion is divided into six chapters as follows:
Part Ⅰillustrates the motivation , methods ,limitations and realm of the research .
PartⅡ analyzes the real time practice of performing “re-purchase agreement” and “re-sales agreement” between Taiwan and the United States.
PartⅢ discusses on the tax law of the re-purchase agreement and re-sales agreement in Taiwan, and analyzes the regulatory scheme in the United States.
PartⅣ demonstrates issues of the re-purchase agreement and re-sales agreement in Taiwan , such as the tax law, the tax accounting ,the financial accounting .
PartⅤ discusses the difference between the United States and Taiwan’s regulations of re-purchase agreement and re-sales agreement in order to have a new view of the current laws.
PartⅥ concludes the former discussions in Taiwan’s
Regulatory scheme of re-purchase agreement and re-sales agreement .Furthermore, this research establish Taiwan’s regulatory of “re-purchase agreement” and “re-sales agreement”.

並列關鍵字

Re-purchase Agreement and Re-sales Agreement

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